CCEA accords in-principle approval for strategic disinvestment of BPCL

The Cabinet Committee on Economic Affairs (CCEA) accorded in-principle approval for strategic disinvestment of stake in BPCL on November 20, 2019. This includes disinvestment of the government’s shareholding of 53.29 per cent in BPCL (except its equity shareholding of 61.65 per cent in Numaligarh Refinery Limited [NRL] and management control of BPCL) along with transfer of management control to a strategic buyer. The deal would also include disinvestment of BPCL’s share of 61.65 per cent in NRL, along with the transfer of management control to a central public sector enterprise operating in the oil and gas sector.